Yes, it's true, I do in fact know him. I also know he does pull the numbers he's advertising. What he should be telling you guys, which he seems to have left out, is that you need about $5k-$10k a month for a budget on buying traffic to make 2:1-3:1 ($20k+ a month) from the site, and you also need the same monthly budget to last you for at least one extra month, to handle the net 15-30 payments from YPN. It's just another form of arbitrage, but on a much bigger and more targeted scale I guess.
Is it worth the $150? Yeah probably, but if you don't have at least $5k a month to dedicate to purchasing traffic for your new arbitrage site, then don't bother. If you do have the cash, goodluck, and you'll probably get a 2:1-2.5:1 ROI.
He's not scamming you, he's just not telling you EVERYTHING about it, but then again, that's what ebooks do, they hype you up and make you think it's easy as shit and cheap, you buy it, and then poof, reality sets in and you feel like a moron.